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Baby Boomers Delaying their Retirement


There are more Americans today working well past their 65th Birthday.  Some out of necessity and some who just want to keep working and keep themselves busy.  And also because they don’t want to stay in the house.  They still want to interact with other people and stay active. This upswing began more than 25 years ago and will continue to grow as more Americans , born between 1946 and 1964 reach full retirement age.


Working longer is one way of entering into retirement more financially secure, so says this report put out by CRR report. But do you really want to work forever just to be able to have a better life for you and your family?


Here are some influencing trends that have changed how we look at our retirement in the past 25 years or so.


  • Employer declining health insurance for retirees
  • more-educated people are known to remain employed longer
  • more  women reaching older ages with longer work histories than previous generations
  • Boomers living longer and healthier lives then the generation before them


Pensions for people employed outside the public sector are vanishing.  The new contribution plans are not cutting it.  According to Fidelity Investments, the average 401(k) account belonging to someone at least 55 years old is worth $165,000.  And these people are the lucky ones. They actually have workplace retirement accounts. The median amount held in all retirement accounts, individual or workplace, where the head of the household is at least 35 but hasn’t yet reached the official retirement age of 65 is $59,000.


This is a sum that is not going to take someone well into their retirement to say another 20 years.  Many financial advisers are pitching the idea to boomers that if they are healthy enough, they should work for as long as they can…


Related:  Earning an extra income


Some say it is good advice and a lot of boomers are taking that advice and working well past the age of 65 and 10%  of those said they would never stop working.


 But here is what can happen!


What could the discrepancy between boomer retirement expectations and reality be?  Most likely, a combination of health issues and age discrimination. 


baby boomers delaying their retirement


Health issues: Between 20% and 30% of workers in their 60s suffer from what they describe as “work limiting health conditions.” Others find their work options limited not by their own physical woes, but by the need to take care of less-than-healthy spouses, parents, or other relatives.  Staying healthy could be unlikely for 60 somethings who develop hip and knee pain.


baby boomers delaying their retirement


Age Discrimination:  It takes people older than 55 longer to find a job than it does their younger peers, and they are also more likely to face long-term unemployment should they lose their position.


The Supreme Court ruled in 2009 that age discrimination has to be the primary reason someone was fired or never hired for the job in order for that person to be able to bring a class action against the establishment.  Yeah try to win that case!


Yes the face of retirement for us baby boomers has dramatically changed.  And we are leading the way for future generations to wake up before it is too late, like it is for us.  You need to work for yourself and not to work for the man.  A job is just that, a JOB.  Working for someone you are just a number.  And when you start to get close to your retirement, they want to edge you out so they don’t have to pay you your full retirement pension. 


Take it from me, I know first hand how that can go.  My husband worked for A Company for 30 years and when they went belly up, the Government stepped in and gave him only 39% of his original pension amount.  Ouch….


Ok so he wasn’t fired for age discrimination, gut non the less he lost his pension that he worked so hard for and thought he would have when he retired.  At the time he was only 51 and that is when the age discrimination came up.  Every job he went for, he was told he was over qualified.  So in around about way they were telling him he was too old.


It was about that time that I knew I had to make some big changes.  I did not want to work for anyone and I wanted to own my own business.  So that is when I turned to the internet and came across this incredible system.  It taught me how to maneage sales online, author a book and I have inspired other boomers to make a change in their lives and start their own online business.


I want to do the same for you.  If you are someone who needs to create an extra income and you do not want to go out and get a part time job and would love the luxury of working from the comfort of your own home.  You can take this business anywhere in the world.  All you need is a laptop and an internet connection.


So make the decision to click on the banner now and get started today.  I will be waiting on the inside to meet you…


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